Hut 8 (TSE:HUT) Stock Price Up 11% – What’s Next?

Hut 8 Corp. (TSE:HUT)’s stock price rose 11% on Wednesday . The company traded as high as C$73.03 and last traded at C$72.24. Approximately 369,055 shares were traded during trading, a decline of 70% from the average daily volume of 1,213,275 shares. The stock had previously closed at C$65.10.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised Hut 8 to a “moderate buy” rating in a research report on Tuesday, January 27th. HC Wainwright upgraded Hut 8 to a “strong-buy” rating in a report on Monday, February 2nd. Eight investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Hut 8 Stock Up 11.2%

The firm has a market cap of C$8.03 billion, a PE ratio of -33.83 and a beta of 4.58. The company has a quick ratio of 1.26, a current ratio of 1.09 and a debt-to-equity ratio of 31.34. The business has a 50-day moving average price of C$75.65 and a two-hundred day moving average price of C$61.66.

About Hut 8

Hut 8 Mining Corp is North America’s innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin’s market direction.